Evaluasi Risiko Dan Return Portofolio Saham Sektor Perbankan Di Bursa Efek Indonesia - Dwi Yanti; Aries Veronica; Alim Ramdhan (Jurnal Manajemen dan Investasi (MANIVESTASI), 2026)
ABSTRAK   Portofolio saham pada sektor perbankan merupakan salah satu pilihan investasi berisiko menengah hingga tinggi di Bursa Efek Indonesia (BEI). Risiko dan return menjadi variabel utama dalam evaluasi portofolio saham karena memiliki implikasi terhadap keputusan investasi. Studi ini merupakan tinjauan literatur terhadap penelitian terkait risiko dan return portofolio saham perbankan di BEI dari tahun 2014 hingga 2025. Kajian mencakup teori portofolio klasik (mean-variance Markowitz), aplikasi model Capital Asset Pricing Model (CAPM), diversifikasi portofolio, efek volatilitas pasar, dan implikasi praktik investasi. Hasil tinjauan menunjukkan bahwa strategi diversifikasi dan pemahaman risiko sistematis/non-sistematis dapat meningkatkan kinerja portofolio, namun pengaruh kondisi makroekonomi dan faktor pasar tetap signifikan. Literatur juga menyoroti perkembangan model evaluasi risiko kontemporer seperti VaR dan downside risk dalam konteks saham perbankan Indonesia.   Kata Kunci: risiko portofolio, return saham, portofolio optima     ABSTRACT   Stock portfolios in the banking sector are among the medium- to high-risk investment options on the Indonesia Stock Exchange (IDX). Risk and return are key variables in stock portfolio evaluation because they have implications for investment decisions. This study is a literature review of research related to the risk and return of banking stock portfolios on the IDX from 2014 to 2025. The study covers classical portfolio theory (mean-variance Markowitz), applications of the Capital Asset Pricing Model (CAPM), portfolio diversification, the effects of market volatility, and implications for investment practices. The review results indicate that diversification strategies and an understanding of systematic/unsystematic risk can improve portfolio performance, but the influence of macroeconomic conditions and market factors remains significant. The literature also highlights the development of contemporary risk evaluation models such as VaR and downside risk in the context of Indonesian banking stocks.   Keywords: portfolio risk, stock return, optimal portfolio